{"id":5023831,"date":"2019-06-03T15:12:38","date_gmt":"2019-06-03T14:12:38","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5023831"},"modified":"2019-06-03T15:12:38","modified_gmt":"2019-06-03T14:12:38","slug":"listed-or-love-it-thaboilers-and-bathrooms-revealed-as-renovations-with-the-biggest-reward","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-hk\/2019\/06\/03\/listed-or-love-it-thaboilers-and-bathrooms-revealed-as-renovations-with-the-biggest-reward\/","title":{"rendered":"Should I List It or Love It? UK Renovation Study Reveals Top Factors for House Price Gains"},"content":{"rendered":"<h3><strong>Boilers and Bathrooms Revealed as Renovations with the Biggest Reward<\/strong><\/h3>\n<ul>\n<li><span style=\"font-weight: 400\">Home improvement study finds <\/span><b>Lofts<\/b><span style=\"font-weight: 400\"> and <\/span><b>Kitchens<\/b><span style=\"font-weight: 400\"> add the most value to a home, but for the highest price.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>London<\/b><span style=\"font-weight: 400\"> boasts a higher percentage of <\/span><b>open-plan<\/b><span style=\"font-weight: 400\"> and <\/span><b>refurbished<\/b><span style=\"font-weight: 400\"> properties, while <\/span><b>lofts<\/b><span style=\"font-weight: 400\"> are most popular in <\/span><b>Bristol.<\/b><span style=\"font-weight: 400\"> \u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Additional bedrooms<\/b><span style=\"font-weight: 400\"> in the home can almost double property value in <\/span><b>Glasgow<\/b><span style=\"font-weight: 400\">, <\/span><b>Leeds<\/b><span style=\"font-weight: 400\"> and <\/span><b>Newcastle.<\/b><span style=\"font-weight: 400\"> \u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In an often unpredictable housing market, a reported 15% of homeowners are opting to improve their property as opposed to upping sticks. As well as creating nicer surroundings, refurbishing different areas of a home can add significant value, but what is the true return on investment?<\/span><\/p>\n<p><span style=\"font-weight: 400\">Self-storage experts <\/span><a href=\"https:\/\/www.safestore.co.uk\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">Safestore<\/span><\/a><span style=\"font-weight: 400\"> have taken a look at the landscape of homeownership to find the most popular areas of the home people improve, and the number of homes in the UK that offer these amenities.<\/span><\/p>\n<h3><b>Areas of the Home<\/b><\/h3>\n<p><span style=\"font-weight: 400\">The study to find a return-on-investment compares the estimated value increase a renovation can provide with the typical cost someone is expected to pay for the type of improvement.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">With an average cost of <\/span><b>\u00a31300<\/b><span style=\"font-weight: 400\">, new <\/span><b>boilers\/heating <\/b><span style=\"font-weight: 400\">systems can boost your home\u2019s value by almost <\/span><b>2%<\/b><span style=\"font-weight: 400\"> and have the biggest return on investment in our study.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Refurbished <\/span><b>kitchens<\/b><span style=\"font-weight: 400\"> and <\/span><b>lofts<\/b><span style=\"font-weight: 400\"> can bolster a home\u2019s value by over <\/span><b>8%<\/b><span style=\"font-weight: 400\"> but their respective level of investment places them slightly lower.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A renovated <\/span><b>garage<\/b><span style=\"font-weight: 400\"> or <\/span><b>storage area<\/b><span style=\"font-weight: 400\"> can set you back up to<\/span><b>\u00a37,000<\/b><span style=\"font-weight: 400\"> but offer less than <\/span><b>1%<\/b><span style=\"font-weight: 400\"> of a home value increase in return, which ranks only above <\/span><b>solar panels <\/b><span style=\"font-weight: 400\">in terms of ROI (<\/span><b>0.5%<\/b><span style=\"font-weight: 400\">).<\/span><\/li>\n<\/ul>\n<h3><b>Popular Renovations by City<\/b><\/h3>\n<p><span style=\"font-weight: 400\">The study goes into more depth to find how popular these different home features are in different parts of the UK based on property listing sites.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Open Plan &amp; Refurbished<\/b><span style=\"font-weight: 400\"> &#8211; These renovations often give homeowners the feeling of more space in their home, so it makes sense to see that <\/span><b>44% <\/b><span style=\"font-weight: 400\">of listed <\/span><b>London<\/b><span style=\"font-weight: 400\"> properties are open plan, and <\/span><b>16%<\/b><span style=\"font-weight: 400\"> are described as refurbished.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Loft<\/b><span style=\"font-weight: 400\"> &#8211; In terms of renovating, lofts are often on the pricier side, but <\/span><b>37%<\/b><span style=\"font-weight: 400\"> of Bristol homes see their value, as well as just under a third of homes in both Birmingham and Cardiff.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Extension<\/b><span style=\"font-weight: 400\"> &#8211; Of all the cities in our research, Edinburgh (<\/span><b>17%<\/b><span style=\"font-weight: 400\">) and Leeds (<\/span><b>14%<\/b><span style=\"font-weight: 400\">) boast the highest proportion of extensions listed, with a UK average of <\/span><b>11%<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Smart Tech and Solar <\/b><span style=\"font-weight: 400\">&#8211; Making more environmental domestic decisions is extremely on trend for homeowners. Smart tech is found as being most popular in <\/span><b>Leeds (3%)<\/b><span style=\"font-weight: 400\">, while the previous government led initiatives have meant that solar panels are most rife in <\/span><b>Glasgow (5%)<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Wet Room<\/b><span style=\"font-weight: 400\"> &#8211; A surprising discovery from the research is the popularity of Wet Rooms, which are advertised in around <\/span><b>5%<\/b><span style=\"font-weight: 400\">of homes in <\/span><b>Leeds<\/b><span style=\"font-weight: 400\"> and <\/span><b>Cardiff.<\/b><\/li>\n<\/ul>\n<h3><b>Room for One More?<\/b><\/h3>\n<p><span style=\"font-weight: 400\">If you own a property that has the potential to hold an additional bedroom, then it might be of financial interest to renovate. We looked at the average value of 1-4 bedroom homes in 9 major UK cities to find the true value in upgrading:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Northern Renovation<\/b><span style=\"font-weight: 400\"> &#8211; While their property values average a lot lower than many other UK cities, homes <\/span><b>Newcastle<\/b><span style=\"font-weight: 400\"> and <\/span><b>Leeds<\/b><span style=\"font-weight: 400\"> add <\/span><b>50%<\/b><span style=\"font-weight: 400\"> to the value of their home with every bedroom added, according to the prices shown on Zoopla.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Wales<\/b><span style=\"font-weight: 400\"> &amp; <\/span><b>Scotland<\/b><span style=\"font-weight: 400\"> &#8211; Outside of the top two, <\/span><b>Cardiff<\/b><span style=\"font-weight: 400\"> and <\/span><b>Glasgow<\/b><span style=\"font-weight: 400\"> offer the highest increase in property value per added bedroom, adding over <\/span><b>\u00a365,000<\/b><span style=\"font-weight: 400\"> to the average listing.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>London Calling<\/b><span style=\"font-weight: 400\"> &#8211; In the nation&#8217;s capital, the value of a one-bed is higher than 2 beds in any other part of the country, so it\u2019s not surprising to learn that the price of a home increased by over \u00a3200,000 for an additional room.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">You can find the full study <\/span><a href=\"https:\/\/www.safestore.co.uk\/blog\/2019\/05\/improve-or-move\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">here<\/span><\/a><span style=\"font-weight: 400\"> to see the breakdown of how each city and different areas of the home fare, as well as some trending home features in 2019.<\/span><\/p>\n<p><b>Methodology<\/b><\/p>\n<p><span style=\"font-weight: 400\">Zoopla listings were used to determine price metrics and the features of the home by region. The remaining data was taken from existing surveys and studies. \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boilers and Bathrooms Revealed as Renovations with the Biggest Reward Home improvement study finds Lofts and Kitchens add the most value to a home, but for the highest price. London boasts a higher percentage of open-plan and refurbished properties, while lofts are most popular in Bristol. \u00a0 Additional bedrooms in the home can almost double<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-hk\/2019\/06\/03\/listed-or-love-it-thaboilers-and-bathrooms-revealed-as-renovations-with-the-biggest-reward\/\" title=\"ReadShould I List It or Love It? UK Renovation Study Reveals Top Factors for House Price Gains\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3636,"featured_media":5023833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[45],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/5023831"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/users\/3636"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/comments?post=5023831"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/5023831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media\/5023833"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media?parent=5023831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/categories?post=5023831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/tags?post=5023831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}